ArcelorMittal S.A. (NYSE:MT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.17.

A number of brokerages have recently weighed in on MT. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Barclays upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th.

ArcelorMittal Trading Down 0.3 %

NYSE:MT opened at $25.29 on Monday. The firm has a fifty day simple moving average of $24.89 and a two-hundred day simple moving average of $23.94. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $29.01. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of -17.94, a PEG ratio of 0.59 and a beta of 1.74. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Analysts expect that ArcelorMittal will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds have recently bought and sold shares of MT. Crossmark Global Holdings Inc. boosted its stake in shares of ArcelorMittal by 4.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after buying an additional 572 shares during the last quarter. Rhumbline Advisers boosted its position in ArcelorMittal by 6.8% in the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 610 shares during the last quarter. Pzena Investment Management LLC grew its stake in ArcelorMittal by 4.0% in the 2nd quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock valued at $575,000 after purchasing an additional 963 shares during the period. Eagle Asset Management Inc. increased its position in shares of ArcelorMittal by 11.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock valued at $418,000 after purchasing an additional 1,615 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ArcelorMittal by 298.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.